VNX Exchange joins forces with NEM blockchain platform

VNX Exchange, a Luxembourg-based market and trading platform for tokenized venture capital assets, has partnered up with blockchain platform NEM.

Under the deal, VNX Exchange and NEM will develop protocols and standards for operating security tokens on the NEM blockchain, the two companies announced in a joint statement.

VNX Exchange and NEM will be working to develop a “liquidity programme” to incentivise venture capital funds to invest in startups involved in the NEM ecosystem.

VC funds will also be able to participate in initial security token offerings on the VNX platform, while XEM – NEM’s peer-to-peer cryptocurrency –will be offered as one of the currencies available on the VNX platform.

Alexander Tkachenko, chief executive and founder of VNX Exchange, said the parties believed that tokenised assets were the “future of capital markets” and that blockchain offered “tremendous opportunities to improve how financial markets – especially private ones – operate”.

Kristof Van de Reck, interim president for the NEM Foundation, said the partnership would allow the blockchain platform to ”learn more about regulatory compliance specific to our technology”.

The VNX Exchange seeks to create a regulatory-compliant market to link investors and venture capitalists looking for liquidity.

NEM is a “permissioned”, private blockchain providing transaction rates for international ledgers.

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